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AcquisitionsNewsOhio

SLIB Brokers Sale of 267-Bed Cedar Village in Mason, Ohio

by Jeff Shaw

MASON, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cedar Village, a seniors housing community in Mason, Ohio, approximately 22 miles northeast of downtown Cincinnati. Cedar Village features 105 independent living/assisted living units and 162 skilled nursing beds. The seller was a nonprofit owner based in Indiana divesting of its only community in Ohio. The buyer was a regional owner with other properties nearby. The price was not disclosed. Ryan Saul of SLIB handled the transaction. “This transaction offered a great opportunity for a company looking …

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AcquisitionsMississippiNewsSkilled Nursing

Blueprint Negotiates Sale of 340-Bed Skilled Nursing Portfolio in Mississippi

by Jeff Shaw

MISSISSIPPI — Blueprint Healthcare Real Estate Advisors has brokered the sale of a three-property, 340-bed skilled nursing portfolio located throughout Mississippi. The seller was New York-based investment firm seeking to divest the properties following the operator filing for bankruptcy. The buyer was DAC Acquisitions, which recently acquired Diversicare, a Tennessee-based regional operator. The price and locations were not disclosed. Overall census had declined throughout the ongoing pandemic and leveled out in late 2021 around 70 percent, but the facilities continued to generate positive EBITDAR, according to Blueprint.

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AcquisitionsColoradoIndependent LivingNews

ESI Arranges Sale of 120-Unit Kipling Meadows in Arvada, Colorado

by Jeff Shaw

ARVADA, Colo. — Evans Senior Investments (ESI) has arranged the sale of The Kipling Meadows, a 120-unit independent living community in the first-ring Denver suburb of Arvada. Built in 2008 with a renovation in 2018, Kipling Meadows averaged 86 percent occupancy in the three months prior to sale. “With the community recently recovering occupancy back to 90 percent in just the latest month, the Evans Senior Investments team was able to showcase the potential upside for a new ownership group by forecasting a 6 percent rental rate increase,” says Hank …

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Memory CareNewsOperationsPeople

Anthem Memory Care Appoints Chris DeShon as Regional Director of Sales, Marketing

by Jeff Shaw

LAKE OSWEGO, Ore. — Anthem Memory Care, a Lake Oswego-based owner-operator, has appointed Chris DeShon as regional director of sales and marketing. In this position, DeShon is responsible for the overall sales and marketing of nine communities in Ohio, Michigan, Minnesota, Washington and Utah. DeShon previously was regional director of sales and marketing with Wallick Communities in New Albany, Ohio. He also served in that position with Clearwater Living in Newport Beach, California. He has supported over 40 senior living communities during his 10 years in senior living regional sales. …

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AcquisitionsFloridaNews

Grandbridge Negotiates $45M Bankruptcy Sale of Community in Florida

by Jeff Shaw

CHAMPIONSGATE, Fla. — Grandbridge Real Estate Capital’s Tampa-based seniors housing investment sales team has arranged the sale of a 223-unit senior living campus located in ChampionsGate, approximately 25 miles southwest of downtown Orlando. The Grandbridge sales team led by David Kliewer and Jay Jordan facilitated the sale to funds managed by Fortress Investment Group for $45 million. Fortress has engaged Watermark Retirement Communities to manage the community. Formerly known as Merrill Gardens at ChampionsGate, the new owner has changed the name to The Glades at ChampionsGate. The community features 114 …

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AcquisitionsAssisted LivingMinnesotaNews

Transwestern Brokers Sale of Hiawatha Suites in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Transwestern Real Estate Services, through its Midwest Capital Markets team, has brokered the sale of Hiawatha Suites, an assisted living and memory care facility in Minneapolis. Transwestern’s Harrison Wagenseil and Erik Coglianese represented the seller, a local developer of multifamily, single-family and assisted living facilities, in the transaction. The buyer was not disclosed. While the price and number of units were not disclosed, the price represents over $200,000 per bed. “In the senior and assisted living space, COVID had a particularly poignant impact on values and occupancy,” says …

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FinanceNewsOhioSkilled Nursing

Cambridge Provides $6.1M HUD Refinancing for Continuing Healthcare of Milan in Ohio

by Jeff Shaw

MILAN, Ohio — Cambridge Realty Capital Cos. has provided a $6.1 million HUD-insured loan for Continuing Healthcare of Milan, a 92-bed skilled nursing facility in Milan, a small village of fewer than 1,500 residents between Cleveland and Toledo. The loan refinances existing debt on the property. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge’s chairman.

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Company NewsNewsPeopleTechnology

EmpowerMe Wellness Names Dr. Jody Mitchell as Chief Medical Officer

by Jeff Shaw

ST. LOUIS — EmpowerMe Wellness, an integrated healthcare provider serving more than 450 senior living communities nationwide, has named Dr. Jody Mitchell as chief medical officer. Based at EmpowerMe’s headquarters in St. Louis, Mitchell will oversee and manage clinical practices, focus on staff development for field clinicians, and utilize the most current research and practices to provide better outcomes for residents of senior living communities nationwide. Mitchell has been with Owensboro Health in Owensboro, Kentucky, since 2012, most recently as medical director of outpatient services and medical director of athletic …

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AcquisitionsConnecticutFinanceM&T Realty Capital CorporationNews

M&T Realty Capital Funds $51.6M Financing Package for Portfolio in Connecticut

by Jeff Shaw

HARTFORD, Conn. — M&T Realty Capital Corp. has closed $51.6 million in Fannie Mae Seniors Housing loans for the acquisition financing of a seniors housing portfolio located in the Hartford MSA. The borrowers are White Oak Healthcare REIT and Everbrook Senior Living. The 10-year, floating-rate loans are structured with three years of interest-only payments followed by a 30-year amortization. Matt Pipitone of M&T’s Baltimore office led the transaction. Further details on the properties were not disclosed.

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DevelopmentFinanceMissouriNews

Blueprint Arranges Development Financing for Bluffstone Community in St. Peters, Missouri

by Jeff Shaw

ST. PETERS, Mo. — Blueprint Healthcare Real Estate Advisors has arranged an undisclosed amount of development financing for The Bluffstone Senior Living, a ground-up seniors housing development in St. Peters, just across the Missouri River from St. Louis. Upon completion, Arrow Senior Living will operate the community, which features 91 independent living, 44 assisted living and 18 memory care units. The borrower is O’Reilly Development Co., an established regional seniors housing developer. Kayne Anderson Real Estate. Though Kayne has purchased two prior O’Reilly properties, this marks the first ground-up development …

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